SCOPA hears SAA was given R38.1 billion by govt since 2018

The Standing Committee on Public Accounts (SCOPA) has heard that South African Airways (SAA) was given R38.1 billion in capital injections from government. The money was paid at various stages from 2018.

This was revealed by the Office of the Auditor-General, that was briefing SCOPA about the financial perfomance of the airline.

The finances of SAA, which led to the airline undergoing a business rescue process, came under the spotlight in Tuesday’s meeting.

This is against the backdrop of a backlog of at least two audits.

The Office of the Auditor-General says of the R38.1 billion that the airline received over the years, R27.6 billion was deposited post the business rescue process.

It also said the airline is currently funded through bailouts, adding that its irregular expenditure increased from R22 billion to R44.5 billion over a four-year period.

 Auditor General briefs SCOPA on the financial performance of PRASA and SAA